Mass. home sales up for 3rd straight month

Home sales in Massachusetts rose for the third consecutive month in September as the median price continued to decline, a trade group and industry journal said today.

ASSOCIATED PRESS

BOSTON - Home sales in Massachusetts rose for the third consecutive month in September as the median price continued to decline.

The Massachusetts Association of Realtors and The Warren Group said Tuesday that the increase in sales of single-family homes when compared to the year-ago month is due in large part to the $8,000 federal tax credit for first-time buyers that is scheduled to expire on Dec. 1.

The Realtors group reported a 4.6 percent increase in sales compared to September 2008, and a median selling price of $260,000. The Warren Group, a Boston-based publisher of real estate data, reported a 4.5 percent increase in sales and a median price of $285,000.

A sharp drop in sales in September compared to August is typical, both groups said.